RadNet acquiring 6 imaging centers, adding $15M in annual revenue
RadNet Inc. is acquiring the assets of six imaging centers in the Houston area, its second such Texas deal in 2024, the company announced Wednesday.
American Health Imaging is the seller, with the centers altogether handling over 100,000 procedures per year and collecting $15 million in annual revenue. Los Angeles-based RadNet previously announced in February that it was entering America’s fourth largest city with the acquisition of seven centers from Houston Medical Imaging (representing 135,000 procedures and $28 million in revenue).
The publicly traded company sees enormous potential in the market, which encompasses a population of 7.3 million and is America’s second fastest growing city.
“Houston presents an exciting opportunity for further growth, including de novo build-outs and potential health system partnerships, and we plan to introduce our AI and digital health solutions to the patient and referring communities in the near future,” CEO Howard Berger, MD, said in an April 10 announcement.
RadNet did not disclose a purchase price but said it hopes to complete the deal before July 1 (subject to customary closing conditions). Atlanta-based American Health Imaging is part of the larger, US Radiology Specialists, having partnered with the private equity-backed operator in 2019. AHI oversees a total of 45 diagnostic centers also spanning Alabama, Georgia, Florida and South Carolina. A US Radiology Specialists spokesperson declined comment late Wednesday.
RadNet will acquire the assets of each center including equipment, tenant improvements and referral relations. This avoids the company having to take on previous liabilities, such as accounts receivable. The six centers offer a broad range of imaging services including MRI, CT, mammography, ultrasound and X-ray. Upon closing the purchase, RadNet plans to transition their branding to its Houston Medical Imaging label.
RadNet bills itself as the leading national provider of freestanding, fixed-site diagnostic imaging services in the U.S. It owns or operates 377 outpatient centers and counting, concentrated in Arizona, California, Delaware, Florida, Maryland, New Jersey, New York and now Texas.
A seventh AHI Texas location in Beaumont will remain part of the company. Here are the locations of the six acquired centers:
- 2615 South Loop West, #170, Houston
- 10912 East Freeway, Houston
- 8633 Broadway Street, Suite 109, Pearland, Texas
- 11301 Fallbrook Drive, Suite 102, Houston
- 14835 Southwest Freeway, Sugar Land, Texas
- 425 Holderrieth Boulevard, Suite 104, Tomball, Texas
Marty Stempniak has covered healthcare since 2012, with his byline appearing in the American Hospital Association's member magazine, Modern Healthcare and McKnight's. Prior to that, he wrote about village government and local business for his hometown newspaper in Oak Park, Illinois. He won a Peter Lisagor and Gold EXCEL awards in 2017 for his coverage of the opioid epidemic.